Navigating your way through a commercial lease can be tricky. But it is important to take the right steps because oftentimes a businesses’ office space or storefront can be their biggest expense.Here are a few tips to help you navigate through the process.
- Don’t accept a verbal agreement. We understand that this may sound obvious but we have run into this issue many times. If it is isn’t in writing it usually isn’t defensible in court.
- Only sign-up for a reasonable lease term. It is important to negotiate a term that you are comfortable with and don’t accept an offer for a longer term that you want.
- Determine who pays for what. Some lease agreements include extra costs, such as HOA fees. It is important to determine up front what you will be paying for.
- Don’t sign the lease without good advice. Don’t make the mistake of signing a lease before contacting your legal team, do it the right way
